☹️The Problem

According to Investopedia, decentralized finance (DeFi) leverages emerging technologies to eliminate third parties and centralized institutions from financial transactions. DeFi operates through cryptocurrencies, blockchain, and software that enables people to transact directly with each other.

The downfall of centralized exchanges like FTX and Binance highlighted the importance of self-custody and having full control over your assets. While the DeFi market is projected to grow to USD 231.19 billion by 2030 (source: Grand View Research), it still faces several challenges:

Complexity: Advanced technology and protocols make DeFi activities accessible mainly to tech-savvy crypto enthusiasts, rather than everyday users.

Security Risks: Scams, fund losses, and errors due to complex systems and lack of user knowledge remain significant concerns.

Multi-Chain Compatibility: Many platforms support only certain blockchains, forcing users to rely on multiple platforms and bridges to access a wider range of cryptocurrencies.

Restricted Assets: Popular platforms like Uniswap and PancakeSwap impose asset restrictions, limiting the availability of certain currencies for users to trade.